Maryland’s assets were on full display at this year’s SelectUSA Investment Summit, the nation’s top event dedicated to promoting foreign direct investment (FDI).
Held in National Harbor, Md., the summit attracts more than 5,500 attendees. Last year’s event helped deliver $139 billion in new U.S. investment projects, supporting more than 32,000 jobs nationwide.
With Governor Wes Moore; Lt. Governor Aruna Miller; and state, county, and local economic development offices in tow, there were countless opportunities to interact with foreign delegations and global business leaders from around the world—including the summit’s plenary panel session, where Gov. Moore touted the state’s advantages and recent FDI wins.
The state’s presence was led by the Maryland Department of Commerce, who coordinated meetings with seven countries – the Republic of Korea; Japan; Ireland; Singapore; the United Arab Emirates; Jordan; and Australia – to promote Maryland as the top destination for international businesses looking to enter the U.S. market.
Commerce also hosted a two-day event prior to the SelectUSA conference, which attracted more than 60 company representatives to learn more about Maryland’s lighthouse sector strengths and assets. The Maryland team highlighted its award-winning Global Gateway Soft Landing Program, which gives international companies the opportunity to test out the U.S. market while mitigating some of the risk.
The state hosted a large Maryland pavilion with several local economic development partners and announced that South Africa’s Impulse Biomed has joined Maryland’s medtech sector. The startup will soon locate in Baltimore at The LaunchPort, which recently joined the Global Gateway program as a soft landing partner.
“The companies represented here today are not playing for second, and neither is Maryland. We boast unparalleled assets, from the world-class talent at NASA Goddard and Johns Hopkins University to our premier labs and research hubs. By aligning these incredible resources with a clear economic strategy, we are ensuring that Maryland remains the best place in the world to change the world.”
Governor Wes Moore
As a follow-up from the state’s Asia trade mission last year, the state announced the creation of a Maryland-Korea Trade Desk, which will provide Maryland with a dedicated representative at the embassy to support the bilateral partnership. Several Korean companies have recently invested in Maryland’s life sciences sector, including Samsung Biologics and Nature Cell, which will both support hundreds of jobs throughout the state.
The state also expanded its collaborations with the Kingdom of Jordan through a Memorandum of Understanding. Signed by Jordan’s Ministry of Digital Economy and Entrepreneurship and the Maryland Technology Development Corporation (TEDCO), the agreement will encourage joint ventures and create new opportunities for startups and co-investment in both countries.
